Private sector company announces first windmill project

KARACHI: A company in private sector of Pakistan has announced to launch first windmill project in the country and agreements in this connection have been entered with Private Power Infrastructure Board and Hubco Laraib Energy Limited.

According to the agreement, Hubco Laraib Energy will complete the project of 84 Megawatts till 2013. The project is located 7.5 kilometers to the south of Mangla Dam.

The government has announced to provide guarantees for the attainment of loan for the company.

At least $160 million will achieved from world and local financial institutions including Asian Development Bank, IFC and Islamic Development Bank. While, local banks include Habib Bank Limited and National Bank of Pakistan.

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